Ntegrator Holdings (SGX:WVJ) and its subsidiary, Ntegrator Pte Ltd, received letters of demand from DBS Bank on Sept. 23 for SG$385,872 due under a loan agreement, according to a Thursday filing on the Singapore Exchange.
The bank seeks payment within seven days, including interest and legal costs, the filing said.
As of Sept. 30, Ntegrator has not defaulted on repayments, but DBS has accelerated the loan balance and declared an event of default due to pending winding-up applications against the company and Ntegrator Pte Ltd.
Ntegrator is negotiating a new repayment plan with DBS.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.